SFGTV2: San Francisco Government Television
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the way we did was with tax dollars. you already paid for it, we're trying to give it back to you. and, so, we take a wholesale retail. we want to be the providers of the data as a fuel, but fuel, gasoline is useless to get you from point a to point b unless you consume that ultimately drives value to the american economy. our customer, i can completely agree with what shannon said in terms of our business objective, so to speak, is to empower entrepreneurs and innovators, to create jobs. that's a metric of success, not revenue generated per data set or some other per ifervance metric. the other piece of that looking back to the example of weather and gps, my monetization, is that together they contribute $100 billion to the american economy last year. last year alone from just those two data liberations. so, that is the way in which we are approaching from a strategy perspective, the ultimate impact to our customers. >> one super quick. one thing the city of san francisco or big cities or federal, right, the other smaller cities, smaller cities have smaller budgets. having a struc
the way we did was with tax dollars. you already paid for it, we're trying to give it back to you. and, so, we take a wholesale retail. we want to be the providers of the data as a fuel, but fuel, gasoline is useless to get you from point a to point b unless you consume that ultimately drives value to the american economy. our customer, i can completely agree with what shannon said in terms of our business objective, so to speak, is to empower entrepreneurs and innovators, to create jobs....
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we'll see hikes in taxs and sales tax increases and more worse is bankruptcies. we see that in stockton and san bernardino. we go to court and bankruptcy law versus pension law. you can see current services cut. tax hikes and other lousy outcomes if we don't see reforms. >> you admit we are having problems paying out the pensions. they are bankrupting. >> the pblem is that los angeles is not the place. and it is a ballot initiative. you have front runners that become mayor . they will not support it it was a nonstarter and never going to work in thetave . you have a better chance of succeeding. >> at least it was a plan . it is no law that said you cannot change 401 k's. that is future and new hires and for their plans. you don't have ill defed benefits and by the way the private sector doesn't get. there is a pension liabity in the state of the california. vicki is right. government services are starting to get cut in cities in california . so i tell you, it doesn't cut it when you have things like let's raise the retirement age to age 52. >> the fact is, these
we'll see hikes in taxs and sales tax increases and more worse is bankruptcies. we see that in stockton and san bernardino. we go to court and bankruptcy law versus pension law. you can see current services cut. tax hikes and other lousy outcomes if we don't see reforms. >> you admit we are having problems paying out the pensions. they are bankrupting. >> the pblem is that los angeles is not the place. and it is a ballot initiative. you have front runners that become mayor . they...
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and dividend taxes are not a rich tax. nor a capital gains. you're talking about pension funds, 401(k) plans, invest in companies that pay dividends. if you're expecting a dividend tax to go from 15% to 44% that, completely removes the opportunity or the incentive to buy dividend paying companies. and that's going to hurt not just the rich. that's going to hurt everybody if we see that. that's very dangerous, and it would create a massive selloff. >> one of the things that the president has done, going to congress and said, going out and encouraging people to tweet and post on facebook my 2k, meaning the $2,000 they would get in the extended tax breaks for the middle class. but he is also meeting privately with ceos. he has a bad relationship with wall street and with corporate america generally. he has presented much of this plan. what's the feedback he's getting? >> there will be a big recession if you don't get behind him. i'm finding many republican ceos -- by the way, most ceos are republican. they are on board. they are not on board with
and dividend taxes are not a rich tax. nor a capital gains. you're talking about pension funds, 401(k) plans, invest in companies that pay dividends. if you're expecting a dividend tax to go from 15% to 44% that, completely removes the opportunity or the incentive to buy dividend paying companies. and that's going to hurt not just the rich. that's going to hurt everybody if we see that. that's very dangerous, and it would create a massive selloff. >> one of the things that the president...
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it's taxes. taxes. okay, you can say taxes. when you separate taxes from revenue, we are going to raise revenue, not taxes, you get strange things, it seems. there's all sorts of privatization. take the highway, we are going to sell it to you. lease it back and get a one-time payment from that. this is something that's happening right now in baltimore that i think is pretty fascinating. take a look. >> i thought it was idiotic. why do we want to look like nascar? look like a bus going down the street. after the shock wore off, this shows how far we have to go to think outside of the box. >> reporter: chicago sold ad space on iconic bridges to bank of america. philadelphia rented out a transitation to at&t. brazil indiana let kfc advertise on fire hydrants. >> baltimore, in case that wasn't there, they are selling ad space on fire trucks. were you tempted? was there anything you were thinking of putting up on the auction block? >> we are not purists. you know, you see things get named from time-to-time. those are extremes. those
it's taxes. taxes. okay, you can say taxes. when you separate taxes from revenue, we are going to raise revenue, not taxes, you get strange things, it seems. there's all sorts of privatization. take the highway, we are going to sell it to you. lease it back and get a one-time payment from that. this is something that's happening right now in baltimore that i think is pretty fascinating. take a look. >> i thought it was idiotic. why do we want to look like nascar? look like a bus going...
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>> well, don't tax you, don't tax me, tax the guy behind the tree. >> paul: russell long, former late senator. >> exactly. and what you see here are very wealthy people who can, you know, engineer ways to avoid taxes, meanwhile, what he's-- the medicine he's suggesting for people who are starting to do better, people who say, make $200,000, maybe working their whole life. they're the ones who are going to get hit with the obama taxes and really, i mean, you look at that and you think a normal human being with, you know, would be ashamed of that lack of intellectual honesty, should be. >> it's fascinating economic dri that costco is borrowing the money to pay this dividend. now, usually when companies pay dividends, it's out of earnings, right? >> yes, retained earnings, in this case, they're borrowing, taking on more debt, not to invest in the business in the future growth, but for a one-time equity pay out. >> and to worry about interest rates are low thanks to ben bernanke. >>, but this shows the tax rates combined with very low bore heing costs and instead of investing in growth, y
>> well, don't tax you, don't tax me, tax the guy behind the tree. >> paul: russell long, former late senator. >> exactly. and what you see here are very wealthy people who can, you know, engineer ways to avoid taxes, meanwhile, what he's-- the medicine he's suggesting for people who are starting to do better, people who say, make $200,000, maybe working their whole life. they're the ones who are going to get hit with the obama taxes and really, i mean, you look at that and...
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that includes a 3.8% tax for obamacare. taxes go on and on. so what are advisors telling their clients? the answer is maybe not so much. rick adelman joins me now. this is a letter you wrote your clients. when i thought was interesting about it is that you don't get a ton of direct advice here. at th end of the day come you don't know what's going to happen. >> that's right, i'm an advisor who can devise because we don't know what the devices would be yet. we have a month before the end of the year. we knew it was going to happen as of january 1, we would be able to say definitively let's capture capital gains and save ourselves money. order, it's definitely no necessary. for the moment, we are saying that we are preparing. we are examining every client accounts so that we are ready to make a move if needed. let's not pull the trigger to set. gerri: one of the things people are concerned about, dividends and dividend paying stocks. wifi on? by southern? what you make of that debate? that is obamacare and that is the law and it is not expiring.
that includes a 3.8% tax for obamacare. taxes go on and on. so what are advisors telling their clients? the answer is maybe not so much. rick adelman joins me now. this is a letter you wrote your clients. when i thought was interesting about it is that you don't get a ton of direct advice here. at th end of the day come you don't know what's going to happen. >> that's right, i'm an advisor who can devise because we don't know what the devices would be yet. we have a month before the end...
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adding tax hikes on dividends and capital gains. the white house wants 50 billion in new spending next year alone in a long-term deal that is supposed to be about cutting spending. >> not even $400 billion in cuts and they want to have this extra spending that is actually greater than the amount they're willing to cut. it was not a serious proposal. >> the president may have the upper hand because the fiscal cliff tops allow him to back the opposition into a corner by framing this as republicans raising taxes. >> if congress does nothing, every family in america will see theiincome taxes automatically go up on january 1st. that is sort of like a lump of coal you get for christmas. >> congressional democrats operating like they don't have to compromise on spending or taxes. >> elections have consequences. the president campaigned, made it very clear. made very clear that he was supporting ta cuts for the middle-class, that he wanted the expiration of the tax cuts for the high end. >> very little progress among the inside player so fa
adding tax hikes on dividends and capital gains. the white house wants 50 billion in new spending next year alone in a long-term deal that is supposed to be about cutting spending. >> not even $400 billion in cuts and they want to have this extra spending that is actually greater than the amount they're willing to cut. it was not a serious proposal. >> the president may have the upper hand because the fiscal cliff tops allow him to back the opposition into a corner by framing this...
SFGTV: San Francisco Government Television
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Dec 2, 2012
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the parking tax. our office would like to thank supervisor campos for carrying that legislation. this follows on the efforts of former supervisors mcgoldrick, dufty >> the parking tax is pretty significant tax for san francisco. it collects a little over $70 million a year in taxes. most of that is appropriated to the mta for transit programs, and so it's a very important tax. the legislation specifically amends how parking bonds are treated. parking bonds are required of operators to protect the city's interest and provide security for the taxes that the operator holds prior to remitting them to the city. so what happens is when you or i go and park in a parking lot, and we make a payment, we're actually paying the tax at that time. and the operator holds onto that and remit it's a month later. since those operators are holding onto those tax dollars on behalf of the city, we do require some security for that. currently there are seven different levels of bonding required based on how much gross rece
the parking tax. our office would like to thank supervisor campos for carrying that legislation. this follows on the efforts of former supervisors mcgoldrick, dufty >> the parking tax is pretty significant tax for san francisco. it collects a little over $70 million a year in taxes. most of that is appropriated to the mta for transit programs, and so it's a very important tax. the legislation specifically amends how parking bonds are treated. parking bonds are required of operators to...
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i'm offering 98% a tax cut of $2,000 a year. you are the party of lower taxes. are you going to refuse to cut people's tacks? >> nobody wants to go over the cliff. that's why the day after the election i tried to speed this process up by making the concession to put revenues on the table. it's unfortunate that the white house has spent three weeks doing basically nothing. >> so you have been around this town a long time, you have been in a lot of negotiations, what is there game? what is their thinking as to how they are going to work their will? do they just figure they won, they are going to get what they want? >> i have no idea, chris. if i knew, i would share it with you but i don't think what they are thinking. >> do you think they are being bullies? >> i think they won the election, they must have forgotten that republicans continue to hold the majority in the house. but, you know, the president's idea of a negotiation is roll over and do what i ask. we need to find common ground and we need to find it quickly. >> and again, because you kind of didn't answ
i'm offering 98% a tax cut of $2,000 a year. you are the party of lower taxes. are you going to refuse to cut people's tacks? >> nobody wants to go over the cliff. that's why the day after the election i tried to speed this process up by making the concession to put revenues on the table. it's unfortunate that the white house has spent three weeks doing basically nothing. >> so you have been around this town a long time, you have been in a lot of negotiations, what is there game?...
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if taxes only mean the tax, the income tax portion of tax burden for four-fitz four fifths of the country, you're talking about something that doesn't matter that much. and in a democracy, you cannot be a successful party if you talk about things that don't matter that much to four fifths of the country. >> all right, your paycheck, your investment, your home, they may all be taxed a bit differently next year. not just income tax. that's if law makers can decide on a plan to avoid the fiscal cliff. so coming up next, i'm going to talk about a deduction that america loves, you probably love, but might be taken away. who do you think i am, quicken loans? ♪ at quicken loans, our amazingly useful mortgage calculator app allows you to quickly calculate your mortgage payment based on today's incredibly low interest rates... right from your iphone or android smartphone. one more way quicken loans is engineered to amaze. ♪ a regular guy with an irregular heartbeat. the usual, bob? not today. [ male announcer ] bob has afib: atrial fibrillation not caused by a heart valve problem, a condition
if taxes only mean the tax, the income tax portion of tax burden for four-fitz four fifths of the country, you're talking about something that doesn't matter that much. and in a democracy, you cannot be a successful party if you talk about things that don't matter that much to four fifths of the country. >> all right, your paycheck, your investment, your home, they may all be taxed a bit differently next year. not just income tax. that's if law makers can decide on a plan to avoid the...
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their payroll taxes might. their income taxes are not. and that is huge. and the truth is, from what i'm hearing, the top 2% better start making financial plans. >> there's no question about that. what's wrong with this proposal? >> look, there are parts of this proposals are reasonable. the bigger problem here is, if the president is sticking to this position, at least for the time being that he outlined last week, would be the equivalent of the republicans saying we want the ryan budget, we want marginal tax rates cut across the board 20%. i'll tell you, steve, i think he has dug in, he spent more time on the phone this week from what i understand with steve israel, chairman of the democrat chair than he did with john boehner. tell me what he's telling those hard left groups about his position and how he can walk back to something more reasonable like something that tom's for. given what he's saying with these hard left groups. >> he's trying to do something different than he's done before. which is take his message outside the beltway, outside of capito
their payroll taxes might. their income taxes are not. and that is huge. and the truth is, from what i'm hearing, the top 2% better start making financial plans. >> there's no question about that. what's wrong with this proposal? >> look, there are parts of this proposals are reasonable. the bigger problem here is, if the president is sticking to this position, at least for the time being that he outlined last week, would be the equivalent of the republicans saying we want the ryan...
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sales tax. it is spurring growth and putting people to work there. wayne would it work here? >> it is a sad day to think that we have to do something the communist china is doing . it worked very well and they have expand today to other provinces in china and it is working very, very well. yes. >> national sales tax does that work here, johnathon? >> it would. it is it fair and treats everyonely and easy to understand and more importantly taxes consumption and not production. the only thing i like about communist china is the chicken but the corporate next tax must go and think of how much more wealth and jobs we would have if it add more to the profits every year. >> julian, what do you make of >> the reason a national sales tax is good it is hardero cheat on and the reason it is it bad. econy growing at 2.4 percent. it would not stimute the commempt i like the bus tax cutos the top two percent than the valuattedad tax. all of the economic data said if you let them expire you will have no impac
sales tax. it is spurring growth and putting people to work there. wayne would it work here? >> it is a sad day to think that we have to do something the communist china is doing . it worked very well and they have expand today to other provinces in china and it is working very, very well. yes. >> national sales tax does that work here, johnathon? >> it would. it is it fair and treats everyonely and easy to understand and more importantly taxes consumption and not production....
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we get taxes, will be cut. no, taxes will go up. spend willing be cut. everyone wants, almost everybody wants spending to be cut. what do you think will happen? >> let's look at wall street. what might happen to the 401(k)s or the stocks. last week, boehner said nothing is happening and stocks would plummet. somebody else would say something going on behind the scenes and stocks go up. this is tremendous volatility. this time of year we get santa claus rally, the stocks will rally until the end of the year. but if the taxes go on, on capital gains and dividends, people will start to sell now to have the better, more preferential tax treatment than afterwards. we may see selling in first of the year. >> eric: long-term, think long-term. once we get past that. what will the effect be? what if taxes on dividends go up? >> this is incredible disincentive. especially on the capital gains. to take the risk of investing. when you say long-term, long-term, if you don't need the money you invest in stock market. if you need it in the next five years don't go near
we get taxes, will be cut. no, taxes will go up. spend willing be cut. everyone wants, almost everybody wants spending to be cut. what do you think will happen? >> let's look at wall street. what might happen to the 401(k)s or the stocks. last week, boehner said nothing is happening and stocks would plummet. somebody else would say something going on behind the scenes and stocks go up. this is tremendous volatility. this time of year we get santa claus rally, the stocks will rally until...
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there's no real reforms. $1.6 trillion in tax increases and some of the savings are tax increases. >> does that it congressman kohl is having these impure thoughts that he had categorized these thoughts. does that mean that? >> i think what tom cole brought this up in a meeting. you need to talk about a host of ideas. that's a chilling effect on members being able to express within closed doors their own ideas on this. that's the problem with that. there are a lot of strategies in terms of how we get there. i would agree with grover norquist on this. the proposal is a nonstarter with republicans and probably most people who have looked at it. we have to get closer to this. they are both very far apart and holding their ground. that's no way to settle it. >> so all this rang lg about the fiscal cliff isn't the goal. with the president asking for $50 billion in stimulus spending, do you worry they might be losing sight of that? >> the best thing for the country is to go over the fiscal cliff. it maximizing the deficit reduction. there's no deal cut between republicans and democrats. it'
there's no real reforms. $1.6 trillion in tax increases and some of the savings are tax increases. >> does that it congressman kohl is having these impure thoughts that he had categorized these thoughts. does that mean that? >> i think what tom cole brought this up in a meeting. you need to talk about a host of ideas. that's a chilling effect on members being able to express within closed doors their own ideas on this. that's the problem with that. there are a lot of strategies in...
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it's the largest tax increase in american history. what i think we can do, and what would make the most sense since both sides seem to be dug in, let's build a bridge over the fiscal cliff, temporary bridge that says, you know, we will extend the tax cuts. you know, we'll reduce the spending cuts, especially in defense. we've going to do it for three months, six months. then we can have some time to look at this responsibly. remember, congress and the president never do anything that close to a good job if they are on a deadline or rush timetable. you know, we got obamacare because of that. that is going to prove a mess. we have gotten all kind of tax deals where things never really materialize. you know, ronald reagan had such a deal at the last minute in 1982, and out of every 100 cents of spending restraint he only got 75 cents because the deal was written so badly went need to take the time on this and not view december 31 as arbitrary deadline. >> jamie: it would be great if we did things in steps. i thought about this with the i
it's the largest tax increase in american history. what i think we can do, and what would make the most sense since both sides seem to be dug in, let's build a bridge over the fiscal cliff, temporary bridge that says, you know, we will extend the tax cuts. you know, we'll reduce the spending cuts, especially in defense. we've going to do it for three months, six months. then we can have some time to look at this responsibly. remember, congress and the president never do anything that close to a...
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same tax rate at you, who cares? if they made $5 million they are paying more than those who make $50,000. >> especially since if are you making $50,000 you are not really paying anything. >> on the whole two-thirds of million mares supposedly left when the top tax rate went to 50%, you said, quote, it is believed many rich brits moved abroad taking flight to avoid the impost bite. yes, or maybe two-thirds of them found a way to declare less taxable income. there is no evidence they moved anywhere. >> it is believed. i was crafty the way i said thatment it is believed by some. my sources tell me. >> exactly. cops tell women to take down uh pensive christmas lights. i'm sorry i blacked out. i think you said you agreed with the aclu. >> yes, they left it to her defense to put her lights back up. >> your reputation is toast. >> i am for christmas lights. in this one singular instance, the aclu is also for christmas lights. so they actually agree with me. >> all right. well, i think the aclu would have no problem with an
same tax rate at you, who cares? if they made $5 million they are paying more than those who make $50,000. >> especially since if are you making $50,000 you are not really paying anything. >> on the whole two-thirds of million mares supposedly left when the top tax rate went to 50%, you said, quote, it is believed many rich brits moved abroad taking flight to avoid the impost bite. yes, or maybe two-thirds of them found a way to declare less taxable income. there is no evidence they...
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fine, you don't want new tax rates. we're out of this. >> what we're trying to do is to get them to come together and join us and doing something that's good for the american economy, and we recognize that's going to require spending savings, not just revenue increases on the top wealthiest 2% of americans. >> and you propose the spending side. you like to see what they want? proposals on both sides. if they want to go beyond that, they should tell us what they like to do. if they want to do it differently -- >> whose turn is this? where are we in this? >> the ball really is with them now. again, they're in a hard place. they're having a tough time trying to figure out what they can do. that's understandable. this is very difficult for them. we might need more time to figure out where -- where they go next. >> we don't have a lot of time. >> you can't wait very long. what we are trying to do is be as clear as we can with what is essential to us and what we like to have and what we think is good for the american economy
fine, you don't want new tax rates. we're out of this. >> what we're trying to do is to get them to come together and join us and doing something that's good for the american economy, and we recognize that's going to require spending savings, not just revenue increases on the top wealthiest 2% of americans. >> and you propose the spending side. you like to see what they want? proposals on both sides. if they want to go beyond that, they should tell us what they like to do. if they...
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tax rates for the top 2%. they've been as high as 90% in the great depression, so you really have to have perspective here. it's hard to see the republicans making this their sticking point. making this thing that that is the hill that they will die on, is not raising taxes on the top 2%. i think that karen is right, that the white house has everything to gain by keeping the president above this. and on the payroll tax thing, that worked. that employ worked and i think that they're planning on having this work out again. the president is the one making the case to people that his staff is dealing with boehnerth and i think that's the right psychological play and it's the right political negotiating play. >> anna marie cox and karen tumblety. stand by, we're going to talk about grover norquist. by the way, karen, happy belated birthday. >> thank you. >> i hear you celebrated, i heard there was a wild party in d.c. last night. thanks for the invite. >> quick note here, don't know what you're doing with your sund
tax rates for the top 2%. they've been as high as 90% in the great depression, so you really have to have perspective here. it's hard to see the republicans making this their sticking point. making this thing that that is the hill that they will die on, is not raising taxes on the top 2%. i think that karen is right, that the white house has everything to gain by keeping the president above this. and on the payroll tax thing, that worked. that employ worked and i think that they're planning on...
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a tax cult for 98%. the rest of the people, let's listen to them. >> it's not acceptable to me and i don't think it's acceptable to you for a handful of republicans and congressman to hold tax cuts hostage simply because they don't want tax rates on folks to go up. right? that doesn't make sense? the senate has already pass add bill to keep the taxes from going up on the middle-class families. that's already passed the senate. you remember congress, they're ready to go, they're ready to vote on that same thing. and if we can just get a few house republicans on board, we can pass the bill in the house, its wi it will land on my desk, and i am ready. i've got a bunch of pens ready to sign this bill. >> and 30 minutes after the president was finished, john boehner held a press conference. he gave a pessimistic assessment of the negotiations. let's listen to mr. boehner. >> let's not kid ourselves. but when i come out the day after the election and make it clear that republicans will put revenue on the table
a tax cult for 98%. the rest of the people, let's listen to them. >> it's not acceptable to me and i don't think it's acceptable to you for a handful of republicans and congressman to hold tax cuts hostage simply because they don't want tax rates on folks to go up. right? that doesn't make sense? the senate has already pass add bill to keep the taxes from going up on the middle-class families. that's already passed the senate. you remember congress, they're ready to go, they're ready to...
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the revenue proposals are $1.6 trillion in revenue and tax increases. it's a massive tax increase. but also not significant and meaningful in entitlement reforms. >> so, anna, i hear comments like those and remarks by john boehner and the president of the united states and i wonder after the election, did we learn anything? because i -- my reading on the election was that the people, the voters wanted compromise. and for the people in washington to talk to each other not at each other. that still appears to be what they're doing, no? >> i think right after the election that was the message that even president obama and john boehner and the entire leadership, we saw that incredible image of the minority and majority leaders on both houses come out saying things that sounded like they were going to cooperate. but, you know, only in washington can that mean nothing quickly. but i do think, look, let's put this in perspective. we have a game of chicken going on here with a lot of posturing. there's 30 days to get this done, which for washington time it's like dog years. it's an eternit
the revenue proposals are $1.6 trillion in revenue and tax increases. it's a massive tax increase. but also not significant and meaningful in entitlement reforms. >> so, anna, i hear comments like those and remarks by john boehner and the president of the united states and i wonder after the election, did we learn anything? because i -- my reading on the election was that the people, the voters wanted compromise. and for the people in washington to talk to each other not at each other....
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then we have been signed on the tax hike that could put a spike tax hike that could put a spike in this very twins. i didn't see them coming. i have obligations. cute obligations, but obligatio. i need to rethink the core of my portfolio. what i really need is sleep. introducing the isres core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. i heard you guys can ship ground for less than the ups store. that's right. ie learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. neil: welcome back. >> most of you know me pretty well. what you see is what you get. while i may be affable and someone who can work with meers of both parties
then we have been signed on the tax hike that could put a spike tax hike that could put a spike in this very twins. i didn't see them coming. i have obligations. cute obligations, but obligatio. i need to rethink the core of my portfolio. what i really need is sleep. introducing the isres core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which...
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>> the tax increases in the president's plan? oh, yeah, absolutely. again, again, if you listen carefully to the political debate, there's very broad-based support now and recognition of the need to let rates go up. we think they should go back to the clinton level and bipartisan that with tax reform in limited deductions for wealthy americans. that's an essential parent of any balanced agreement. now, that's not enough. we think we can go beyond that and lock in some carefully designed savings that helps us go back to living within our means. and the president lad out a very detailed, comprehensive plan for how best to do that. he put on theitable it $16 billion in savings, and they're very detailed, and they're very well designed-- >> schieffer: what gives you reason for optimism. speaker boehner says this is basically a stalemate. >> it's true that we're still a bit apart. and they're going to have to move further, and they're trying to figure out, again, what they do next in this context. again, we've given them a very detailed set of proposals. w
>> the tax increases in the president's plan? oh, yeah, absolutely. again, again, if you listen carefully to the political debate, there's very broad-based support now and recognition of the need to let rates go up. we think they should go back to the clinton level and bipartisan that with tax reform in limited deductions for wealthy americans. that's an essential parent of any balanced agreement. now, that's not enough. we think we can go beyond that and lock in some carefully designed...
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. >> as both sides in washington try to hammer out agreements on taxes and fiscal spending, they get the full media treatment as the press try to pin the blame on the g.o.p. is it working? details next on news watch. okay, here's the plan. you have a plan? first we're gonna check our bags for free, thanks to our explorer card. then, the united club. my motr was so wrong about you. next, we get priory boarding on our flight i booked with miles. all because of the card. and me. okay, what's the plan? plan? mm-hmm. we're on vacation. there is no plan. really? [ male announcer ] the united mileageplus explorer card. the mileage card with speci perks on united. get it and you're in. why does my mouth feel dryer than i remember it to be? there are more people taking more medication, so we see people suffering from dry mouth more so. we may see more cavities, bad breath, oral irritation. a dry mouth sufferer doesn't have to suffer. i would recommend biotene. the enzymes in biotene products help supplement enzymes that are naturally in saliva. biotene helps moisten those areas that have beco
. >> as both sides in washington try to hammer out agreements on taxes and fiscal spending, they get the full media treatment as the press try to pin the blame on the g.o.p. is it working? details next on news watch. okay, here's the plan. you have a plan? first we're gonna check our bags for free, thanks to our explorer card. then, the united club. my motr was so wrong about you. next, we get priory boarding on our flight i booked with miles. all because of the card. and me. okay, what's...
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loopholes and put the tax cuts on the table instead of raising tax rates for anyone. >> if there's another way to get income from upper income americans that doesn't hurt our economy, then why wouldn't we consider it. >> those are publicly unchanged deadlines. whether political theater or political reality, there's more to going over the fiscal cliff far beyond hypothetical. >> i think we're going over the clif. >> if they are going to force higher rates on virtually all americans because they're unwilling to let tax rates go up on 2% of americans, then that's the choice we have to make. >> emily joins us live from washington and so ellie, did anyone on any of the talk shows offer something resembling a bipartisan deal, or was effort just negativity? >> when the weekend began, an official who's very familiar with this -- as we saw on the talk shows today, there's no word that anything has been added to anyone's calendars in the past couple of days. so is there hope a deal can be reached? certainly that hope is still alive. but is there a timeline in place as to when it will happen, that's
loopholes and put the tax cuts on the table instead of raising tax rates for anyone. >> if there's another way to get income from upper income americans that doesn't hurt our economy, then why wouldn't we consider it. >> those are publicly unchanged deadlines. whether political theater or political reality, there's more to going over the fiscal cliff far beyond hypothetical. >> i think we're going over the clif. >> if they are going to force higher rates on virtually all...
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so, streamline the tax code, remove the entire income tax philosophy, fair tax or flat tax, can't do that now. but look at spending and spending cuts across the board and different programs where we can really cut some money, rather than talk about it, let's do something and do it next week and move it down to the senate and the let them look at it it. >> dave: so there's substance and also, style, congressman. how do you feel about the fact that the president, instead of sitting down with your leader john boehner is out there in what appears to be a campaign style, giving speeches instead of negotiating? >> well, it's disturbing in some respect. he is the leader of the country. and rather than be in washington d.c. in a room working with everybody involved that can make these decisions and push legislation, republicans, democrats, senators, members of house and talking through the knitty gritty, he proposes town and campaigns about it and it's difficult to communicate and talk about things if the president is not in washington to talk. >> dave: especially with roughly two weeks to g
so, streamline the tax code, remove the entire income tax philosophy, fair tax or flat tax, can't do that now. but look at spending and spending cuts across the board and different programs where we can really cut some money, rather than talk about it, let's do something and do it next week and move it down to the senate and the let them look at it it. >> dave: so there's substance and also, style, congressman. how do you feel about the fact that the president, instead of sitting down...
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in taxes by an average of 5%. that means a middle-class family will pay $2,000 more in taxes and married couples would be hurt because of marriage penalty. it doesn't include the budget consequences. $55 billion would be cut from the pentagon and another $55 billion slashed from domestic programs. an estimated 2 million jobs could be lost pushing the economy back into a recession adding to the misery to those facing tough times by ending jobless benefits for the long term unemployed. steve is live in washington. where do we stand at this point? >> reporter: two sides did do something today. they appeared on the sunday talk shows but they haven't negotiated an actual deal. john boehner blasted the white house plan which was put forward last week. boehner says the president essentially wasted the last three weeks since the election with nonsense. >> the president is asking for $1.6 trillion worth of new revenue over ten years, twice as much as he been asking for in public. stimulus spending that exceeded the amount
in taxes by an average of 5%. that means a middle-class family will pay $2,000 more in taxes and married couples would be hurt because of marriage penalty. it doesn't include the budget consequences. $55 billion would be cut from the pentagon and another $55 billion slashed from domestic programs. an estimated 2 million jobs could be lost pushing the economy back into a recession adding to the misery to those facing tough times by ending jobless benefits for the long term unemployed. steve is...
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yeah, no one wants higher taxes, but we're not in a dp reception rightnow. we absolutely are going to die if things start to change and in fact, the underlying real problem, the growing deficit on the path to greece, the goalets worse once we kick the can away. that will be the overriding probleming not the slowing economy not people spending money, but sure, that might not happen in the first two months, but it will eventually happen if we keep kicking down the can. we want to prove to the world that we have a solution and if it takes a few months to get there and higher taxes for a while, big deal, we will get there. that's got to be the plan not just the same nonsense. >> yeah, but larry, that's part of your point, but jonas says we're not in a bad recession, we're certainly not in a good recovery. and if we just keep falling little bit by little bit, maybe as much as jump off the cliff, but it's certainly a slippery slope. >> brenda, the damage is already being done. we saw it in november retail sales and companies delaying activity already and we know t
yeah, no one wants higher taxes, but we're not in a dp reception rightnow. we absolutely are going to die if things start to change and in fact, the underlying real problem, the growing deficit on the path to greece, the goalets worse once we kick the can away. that will be the overriding probleming not the slowing economy not people spending money, but sure, that might not happen in the first two months, but it will eventually happen if we keep kicking down the can. we want to prove to the...
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>> the tax problem is the biggest problem. president obama has laid out in the past and seen willing to me, at least, to make some cuts to medicare. maybe not ones conservatives like. what we don't know yet, the big question is, president obama is pushing for $1 trillion in tax increases, pushing it for a long time. he feels he has a mandate on that now. we know his idea is about raising revenue. we don't know what the republicans ideas are on the revenue. that's what we need to know. that's the whole question, what are they. go ahead. >> we've heard from lindsey graham yesterday or the day before with regards to revenue. he still contends, ari, that you can raise a significant chunk of revenue, he's thrown out $800 billion at least by closing loopholes and limiting deductions, whether it's $30,000, $40,000, $50,000. >> yeah, but he's just talking, right? just talking. what the president has done is outlined a plan. he outlined it once and the american people voted for it, and he outlined it again, not surprisingly, the same c
>> the tax problem is the biggest problem. president obama has laid out in the past and seen willing to me, at least, to make some cuts to medicare. maybe not ones conservatives like. what we don't know yet, the big question is, president obama is pushing for $1 trillion in tax increases, pushing it for a long time. he feels he has a mandate on that now. we know his idea is about raising revenue. we don't know what the republicans ideas are on the revenue. that's what we need to know....
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efforts in the past decade and in two thousand and eight paid taxes at a rate of waiting for it. one per cent that it was. thank you thank you thank you was you was if you mess up the time it was immaculate to me like you. think i was sick of the was i was a yes q but one could send out if you want but that is the big the twenty five years of the nothing but greed. we've been working to. clean to keep people in this club that they think we could put up with to have been done at night when the lesson i was going to take would be was cut to thank ye thank you i was in two thousand two thousand two thousand i was was was . emission free accreditation three cents for charges free the maintenance free. three stooges free. old free blog just plug in video for your media projects and free media oh god r t dot com you.
efforts in the past decade and in two thousand and eight paid taxes at a rate of waiting for it. one per cent that it was. thank you thank you thank you was you was if you mess up the time it was immaculate to me like you. think i was sick of the was i was a yes q but one could send out if you want but that is the big the twenty five years of the nothing but greed. we've been working to. clean to keep people in this club that they think we could put up with to have been done at night when the...
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efforts in the past decade and in two thousand and eight paid taxes at a rate. waiting for a. one person thank you. thank you thank you thank you thank you thank you. cut if you think i know how to make you think you me i thank you. thank you thank us. thank you. to the two thousand yes thank you but one could send out if you want but the debate is bigger than twenty five he does nothing nothing but preach pleasing working people. listen to. this kind of the thing that we put up with who may have been born at night but not willing to cut of the thank you to thank you thank you thank you thank you thank you i thank you each thousand two thousand two thousand two thousand to two thousand and six two thousand thank you thank you i. the gold fever. turned thousands into slaves. but also among others involved in the monsoon and since i started working in a mine i stayed. fit multinationals. to cash cows to be milked dry and if i think that in this country gold medal logie as an environmental cost which is unacceptable local business was labeled illegal and controlled by criminals i
efforts in the past decade and in two thousand and eight paid taxes at a rate. waiting for a. one person thank you. thank you thank you thank you thank you thank you. cut if you think i know how to make you think you me i thank you. thank you thank us. thank you. to the two thousand yes thank you but one could send out if you want but the debate is bigger than twenty five he does nothing nothing but preach pleasing working people. listen to. this kind of the thing that we put up with who may...
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there are more taxes and we'll expire the reduction on social security o taxes. that's going to happen anyway. buctt look. that's not the real issue at stake here. what we have going on with the country thanks to these politicians tearing each other apar ot or fighting as usual, ts last few days is critical. what has happened is the republicans want to step into the trap set for them by the democrats which is as the spider said to the fly, step into my parlor, on entitlements which was the headline in the jumper. meanwhile, the republicans have the biggest hammer available. when barack obama went out, he went out and overreached. this idea that he should set the debt limit. if i were the republicans, i would say stop everything. we're going to fight you. >> youg. know what i think? i think the republicans have a communication problem, and i'll tell you why. i was listening to some of the stuff, and when the president gets up, he talks about middle class families and the holidays. then the republicans stand up and say economy and the debt ceiling and the debt. you
there are more taxes and we'll expire the reduction on social security o taxes. that's going to happen anyway. buctt look. that's not the real issue at stake here. what we have going on with the country thanks to these politicians tearing each other apar ot or fighting as usual, ts last few days is critical. what has happened is the republicans want to step into the trap set for them by the democrats which is as the spider said to the fly, step into my parlor, on entitlements which was the...
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efforts in the past decade and in two thousand and eight paid taxes at a rate. waiting for a. one person thank you. thank you thank you thank you thousands thank you. cut you cut the excuse that was an excuse that was nearly to me like you. think you think of the excess i. was yes thank you but one could send out if you want but that is the twenty five years that the nothing but the great. thing working to be. lending to people in this club that they could put up with who may have been done at night but not elected to coop of the big thing would be the to thank you thank you thank you thank you thank you thank you i thank you each thousand two thousand two thousand two thousand two thousand i was thousand to six was you thank you was. do we speak your liking. which. news programs and documentaries in spanish matters to you breaking news a little tonnage of angola's kidneys stories. you hear. that troy all teach spanish find out more visit i. play. live. i've. led i. please please please please. please please. please please. shut. let's. see.
efforts in the past decade and in two thousand and eight paid taxes at a rate. waiting for a. one person thank you. thank you thank you thank you thousands thank you. cut you cut the excuse that was an excuse that was nearly to me like you. think you think of the excess i. was yes thank you but one could send out if you want but that is the twenty five years that the nothing but the great. thing working to be. lending to people in this club that they could put up with who may have been done at...
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this is about state taxes and personal income taxes. >> i'm a regular guy. i got a family, couple of kids, i live in middle america anywhere. this fiscal cliff, if we go over it, what's going to happen to me? >> first of all, the way you sell your house has to do with capital gains. the value of your house might fall. income taxes go up, the entire economy, markets are going to worry whether the government can lead. >> i don't have any stocks. i don't care about the market. what does it mean to me, john doe. >> your tax goes up. moyer payroll taxes. >> pay rowe taxes are go up anyway obamacare kicks in and we're going to have a reduction on social security taxes. that's going to happen anyway. that's not the real issue at stake here. what we have going on with the country -- the politicians tearing each other apart or fighting as usuals is really over mastery, and this last few days is critical. what happened is the republicans want to step into the trap set for them by the democrats, which is, as the spider said to the fly, step into my parlor. and the repu
this is about state taxes and personal income taxes. >> i'm a regular guy. i got a family, couple of kids, i live in middle america anywhere. this fiscal cliff, if we go over it, what's going to happen to me? >> first of all, the way you sell your house has to do with capital gains. the value of your house might fall. income taxes go up, the entire economy, markets are going to worry whether the government can lead. >> i don't have any stocks. i don't care about the market....
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efforts in the past decade and in two thousand and eight paid taxes had a rate. waiting for a. one person thank you. thank you thank you thank you thank you thank you. cut if you think the kind of was immaculate to me i think you. thank you thank us who thing was yes thank you thank you but one could send out if you want but that is better than twenty five years of the nothing but treat we've been working p q let me play this clip of that that you think we could put up with to keep it in bed at night but not related to coop of the big thing would be. to thank you thank you thank you thank you i thank you enough to thank you you thank you thank you i was up to two thousand i was thousand six thousand thank you was. sure was that so much. mayer's and i mean to say she's in a lot of people and hearing within every world media is fond of the dramatic term water wars when it comes to describing the future management of global water resources. the great russian barrios. prevailing over hazards and asperity. to reenact an epic parade through paris. can they complete that triumph. with
efforts in the past decade and in two thousand and eight paid taxes had a rate. waiting for a. one person thank you. thank you thank you thank you thank you thank you. cut if you think the kind of was immaculate to me i think you. thank you thank us who thing was yes thank you thank you but one could send out if you want but that is better than twenty five years of the nothing but treat we've been working p q let me play this clip of that that you think we could put up with to keep it in bed at...
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>> one reason to raise taxes we have 1 trillion dollar eficit, but i agree with charlie, we've got to cut this noncess out how we need 50 billion of extra stimulus. look, we're running 3illion a day of deficit spending, we don't even know if deficit spending is stimulative. we don't have to prove that that's stimulative. we're running such a huge deficit. unless he's a poker player and this is a bid to throw us off pace, that's not a serious proposal. we're not dealing with this seriously at 1600 pennsylvania avenue and he owes the population a lot more than he's owing. >> neil: adam, i'm worried that they make a christmas treeut of this and throwing more and more ornamts because it's the next legislation that we're cobblingogether we might as well put some spending in there. in this case, a minimum of 50 billion others like chuck scmer talked not trying to find a way to wiggle half a trillion dollars for another construction effort here, and on and on and on. >> well, of course, unfortunately, neil, i should say for better or worse, the way you're describing it is in fact the way it
>> one reason to raise taxes we have 1 trillion dollar eficit, but i agree with charlie, we've got to cut this noncess out how we need 50 billion of extra stimulus. look, we're running 3illion a day of deficit spending, we don't even know if deficit spending is stimulative. we don't have to prove that that's stimulative. we're running such a huge deficit. unless he's a poker player and this is a bid to throw us off pace, that's not a serious proposal. we're not dealing with this seriously...
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a few republicans who are willing to talk about higher tax rev news but not higher tax rates. the president made a direct appeal to the public. the toy factory in pin pen. he urged congress to pass a bill and extend the era tax cuts for middle class only. >> congress could prevent a tax hike on the first 250,000, of everybodiy income. that means 98 percent of americans and nen percent of small businesses wouldn't see income taxes go up at all . even the wealthiest americans would get a tax cut on $250,000 of the income. democrats are pushing for a vote and it was approved by the secretary. >> and republican leaders what are their next move. >> they are sticking to their guns on the tax rate . they are reacting strongly to the plan that the president uned this week. house spheeker - on speaker boehner said it was not a serious proposal. it is an advantage to run the clock out and getting closer to the deadline in the end of the year. at some point if there is a break through it has to happen in a short manner. it takes a while to get the proposal score legislation drafted. if w
a few republicans who are willing to talk about higher tax rev news but not higher tax rates. the president made a direct appeal to the public. the toy factory in pin pen. he urged congress to pass a bill and extend the era tax cuts for middle class only. >> congress could prevent a tax hike on the first 250,000, of everybodiy income. that means 98 percent of americans and nen percent of small businesses wouldn't see income taxes go up at all . even the wealthiest americans would get a...
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a tax increase double the size of what he campaigned on. billions of dollars in new stimulus spending, and an unlimited, unchecked authority tow borrow from the chinese. maybe i missed it, but i don't recall him scwg for any of that during the presidential campaign. >> jarvis: parents and school boards across the country are debating whether to offer bonuses to teachers whose student do well on standardized tests. sharyl attkisson check out how the bonus is working in the first city to try the idea >> reporter: tenth grader lennard long attends a public high school in washington, d.c., where his mom, leticia, used to be frustrated there were no teacher involveses. >> parents would say this teacher they didn't think there was a good teacher but you didn't have an idea why. they weren't evaluated and there wasn't anything for to us determine why. >> reporter: test scores here ranked among the worst in the nation, even though the district was spending more per pupil than large u.s. cities, almost $13,000 per student. but in 2009, washington, d
a tax increase double the size of what he campaigned on. billions of dollars in new stimulus spending, and an unlimited, unchecked authority tow borrow from the chinese. maybe i missed it, but i don't recall him scwg for any of that during the presidential campaign. >> jarvis: parents and school boards across the country are debating whether to offer bonuses to teachers whose student do well on standardized tests. sharyl attkisson check out how the bonus is working in the first city to...
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efforts in the past decade and in two thousand and eight paid taxes at a rate. waiting for a. one person thank you. thank you thank you thank you thank you thank you. cut you think of how many thank you thank you thank you me i thank you. thank you thank us thank you to come to the two thousand yes thank you but one could send out if you want but that is better than twenty five years of the nothing but great we've been working pete thank you let me play this little bit that you think we could put up with to keep it in bed at night but not listen to coop of the big thing would be the to thank you thank you thank you thank you i thank ye thousand two thousand two thousand two thousand two thousand to two thousand and six was you thank you thank you i. thank you. it is. i've . i've . submitted. lists about.
efforts in the past decade and in two thousand and eight paid taxes at a rate. waiting for a. one person thank you. thank you thank you thank you thank you thank you. cut you think of how many thank you thank you thank you me i thank you. thank you thank us thank you to come to the two thousand yes thank you but one could send out if you want but that is better than twenty five years of the nothing but great we've been working pete thank you let me play this little bit that you think we could...
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individual taxes. a lot of ways to skin the cat here. but the president seem determined to raise the rates. that is not going to help the economy. of it seems vindictive to me. what we ought to do is try to reform our tax code and lower rates. maybe we'd have revenue. but revenue by itself will never keep up with the spen spending. >> shannon: what about the mortgage deduction or charitable duction? there are things that come up with discussion. are they on the table? >> i think mortgage deduction is very important to the housing industry. first term home buyers and so forth. we ought to look at everything. charitable deductions fuels a lot of university and the charities. but all the things are substantive. it's a question of what does america really want. they want good economy and jobs. >> shannon: i want to ask about the other issues going on. u.n. ambassador susan rice, a feeling she is on the short list of the president potentially to nominate here for secretary of state. if it happens she has to come before you in senate. she will
individual taxes. a lot of ways to skin the cat here. but the president seem determined to raise the rates. that is not going to help the economy. of it seems vindictive to me. what we ought to do is try to reform our tax code and lower rates. maybe we'd have revenue. but revenue by itself will never keep up with the spen spending. >> shannon: what about the mortgage deduction or charitable duction? there are things that come up with discussion. are they on the table? >> i think...
SFGTV: San Francisco Government Television
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with the property taxes it's 780,000 that is on going basis. it's not a small number and not as many commas in it but it will generate the general fund. we call out property taxes separately because in the greater context of pier 70 we may may look at a funding mechanism for this and even if we do that there is a fiscal benefits. there are benefits to special funds through the city. mta will get $70,000 a year and these special funds coming off property taxes, so that's the highlights. this is as we went over in october the potential revenue streams to the port over time. it could possibly range in our expected case that by 10 to 12 years out we are at $700,000 a year of rent but that depends how the cost and revenues bear out, so sorry -- our next steps here the board will endorse. we will keep refining the project. we will be back to you in early 2013 and get construction going and get people out there in the businesses. i am available for any questions. >> thanks. >> there is no action required today. the action was in october. >> okay. okay
with the property taxes it's 780,000 that is on going basis. it's not a small number and not as many commas in it but it will generate the general fund. we call out property taxes separately because in the greater context of pier 70 we may may look at a funding mechanism for this and even if we do that there is a fiscal benefits. there are benefits to special funds through the city. mta will get $70,000 a year and these special funds coming off property taxes, so that's the highlights. this is...